Polyurethane is polymer made from monomer units of urethane (carbamate). Polyurethanes are versatile material which can converted in various forms such as thermosetting plastics, thermoplastics and synthetic rubber (elastomer). Most of polyurethanes are thermosetting plastics which do not melt when heated. Most commonly polyurethanes are made by the reaction of polyol and polyisocyanate. Commercially methylene diphenyl diisocyanate (MDI) and diisocyanate (TDI) are used for production of polyurethanes. Different types of polyurethanes are available in the market such as flexible polyurethane foam, rigid polyurethane foam, thermoplastic polyurethanes and polyurethane binders for variety of applications such as Automotive, building & construction, Footwear, furniture & bedding, Electronics and many other applications.

Raw materials used for the production of polyurethanes are polyol and isocynates. These materials are petrochemicals which are derived from the crude oil. TDI and MDI are the commonly used Isocynates in the market.

There are many big players who are into the MDI, TDI and polyol market such as BASF, Bayer, Dow Chemicals, Sadara group and many more. Supply of raw material is a factor for the production of polyurethanes. In the market there is oversupply of the raw materials therefore the market is competitive. Asia Pacific is the largest supplier of raw material for the production of polyurethanes. There is no issue with supply of the raw material however the price of raw material is not stable due to fluctuation in crude oil price. These raw materials are derived from the crude oil therefore the fluctuation in oil price is a big concern here.

The two major application areas that show significant benefits in terms of energy efficiency from polyurethane are construction and transportation. In building and construction use of Polyurethane in polyurethane roof and wall insulation, wall and window insulation and pipe insulation ensures that temperatures are maintained. Use of Polyurethane in cars and trucks leads to a reduction in vehicle weight, and therefore provides greater fuel economy. Polyurethane thermal insulation in refrigerators, freezers, water heaters and other such appliances, requires less energy to power these units.

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